I recommend that you research if your state has any programs related to cars that are unable to pass smog. That is if you cannot fix the problem on your own.
For example, California has a financial assistance program (
CAP Program - Consumer Assistance Program -http://www.smogcheck.ca.gov/stdpage.asp?Body=/Consumer/cap_program.htm) , that if you are low income, you may be eligible up to $500 in financial assistance to have repairs done to your car, but only at a certain list of certified shops. Also California has a program, that if you would rather surrender your car, the state will purchase your un-smogable car for $1000. (Please note the above link is only applicable to California consumers)
Unfortunately if you car is un-smogable, there’s no point in selling it to a private party, as they cant transfer title unless the car is smogged.
To research if your state has any programs like the afore mentioned, contact your local DMV or visit your states DMV web site and search for "If I Fail Smog".
P.s. That’s a ton of mileage for a 92 Tercel. I have a 91 myself with 155k. Had trouble passing emissions, but passed everything else. Emissions were high due to massive carbon deposits in several places primarily in my intake. I purchased Gas Kicker
http://gaskicker.rxp.com/. It significantly reduced my emissions, and I passed smog. Note that this doesn’t fix electrical/computer/mechanical issues, but is a fuel additive to help clean your engine of carbon deposits which is common for high mileage Tercels. IE: it does not fix EGR if you failed because your EGR did not hold a vacuum, which would cause you to fail. Like Gator said, try an auto dismantler, or a junkyard for a low mileage Tercel, that you can scrap their parts.